BRECO CREDIT UNION PURCHASES PRAIRIEVILLE FACILITY
BRECO Federal Credit Union purchased an IberiaBank property in
Prairieville to begin its Ascension Parish operations. IberiaBank
had improved the property with a temporary building and paving. But
the location on Airline Highway across from the Wal-Mart
Supercenter became vacant several months ago. BRECO Federal Credit
Union purchased it last week for $725,000. According to
Justin Langlois and Scot Guidry with Mike Falgoust &
Associates Real Estate, the property consisted of a
1.1-acre site with approximately 274 feet of frontage on the
eastern side of Airline. According to Langlois, of the sale price
they estimate about $120,000 is made up in the value of the modular
building and site improvements. This would indicate a sale price
for the land of about $9.50 per square foot, which is significantly
below what most of the land sales in the area have been in recent
months. BRECO Federal Credit Union intends to use the existing
modular building and open a branch of their credit union within the
next few months.
Mike Falgoust & Associates - facebook